NOBINA has been 100% owned by BASALT INFRASTRUCTURE PARTNERS since December 2021.

At what enterprise value was NOBINA acquired in 2021?

During the acquisition of NOBINA by BASALT INFRASTRUCTURE PARTNERS in 2021, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of NOBINA when it was acquired by BASALT INFRASTRUCTURE PARTNERS?

The estimated EV/EBITDA multiple for NOBINA is in the range of 5x - 12x.

When was NOBINA acquired by BASALT INFRASTRUCTURE PARTNERS?

NOBINA was acquired by BASALT INFRASTRUCTURE PARTNERS in 2021.

What was the revenue of NOBINA at the time of the deal?

The revenue of NOBINA at the time of the deal is estimated to be in the range of 750M - 1.3b EUR.

What was the EBITDA of NOBINA during the acquisition?

NOBINA's EBITDA is estimated to be in the range of 100M - 200M EUR.

How is the data for the NOBINA acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the NOBINA deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.nobina.com/media/press-releases/2022/nobina-has-applied-for-delisting-of-its-shares-from-nasdaq-stockholm/

What is the average EV/EBITDA multiple for the Business Services sector in 2026?

The average EV/EBITDA multiple for the Business Services sector in 2026 is 11.4x.

← DATABASE

Home Database Business ServicesNOBINA

12/2021

NOBINA acquired by BASALT INFRASTRUCTURE PARTNERS

SWEDEN Transport & Logistics / Passenger Transport / Bus & Coach EV 1b - 4b EUR

Context

Basalt Infrastructure Partners launched a public takeover bid for Nobina, delisting the company from the Nasdaq Stockholm. The offer priced at SEK 108 per share represented a significant premium. Basalt aims to support Nobina's long-term growth and transition to electric fleets as a private owner.

NOBINA, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

Nobina is the premier and largest public transport bus operator in the Nordic region, managing mission-critical mobility infrastructure networks across Sweden, Denmark, Norway, and Finland. Headquartered in Solna, Sweden, the company designs, structures, and executes urban, regional, and intercity public bus services, alongside specialized on-demand and accessible transport solutions. Its highly resilient business model is characterized by exceptional revenue visibility, with the vast majority of its turnover secured through long-term, inflation-indexed contracts (typically spanning 8 to 10 years) tendered by regional and municipal public transport authorities.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2020

2019

Similar deals in Transport & Logistics

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
01/2022	CMA-CGM	COLIS PRIVE	FRANCE	Last Mile Delivery
01/2022	CFTR (COMPAGNIE FRANCAISE DES TRANSPORTS REGIONAUX)	AUTOCARS MAISONNEUVE	FRANCE	Bus & Coach
10/2021	TIKEHAU CAPITAL	GROUPE STERNE	FRANCE	Road Freight
08/2021	MAERSK (A.P. MOLLER - MAERSK)	B2C EUROPE	NETHERLANDS	Last Mile Delivery
04/2021	AQUASOURCA	GROUPE ASTR IN	FRANCE	Freight Transport
12/2020	EQT PARTNERS	TORGHATTEN	NORWAY	Marine Passenger
10/2020	GENEO	GROUPE BBL	FRANCE	Logistics
05/2020	SIPAREX / BPIFRANCE	GROUPE TOP CHRONO	FRANCE	Last Mile Delivery
01/2020	CVC	D-MARIN	GREECE	Infrastructure & Ground Services
12/2019	OAKTREE CAPITAL MANAGEMENT	FORTIDIA	ITALY	Warehousing / 3PL

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 750M - 1.3b EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NOBINA by BASALT INFRASTRUCTURE PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: nobina

Acquirer: basalt infrastructure partners